Extell Wants Foreigners to Pay Top Dollar at One57

Rendering of One57 (Photo from One57 Website)

Get those elbows out and ball point pens ready, New Yorkers! One57, the  giant condo tower giving new meaning to the term “high rise,” has already begun selling units. Although the building’s developer, Extell, will open an official sales office in the coming weeks, foreign investors have already started sealing deals in the building, The Real Deal reports.

It’s no wonder the building, scheduled to be completed in the next two years, has been so popular with out-of-town buyers. Entering the luxury condo’s website, a message appears on the screen: “NOT ONLY DO YOU LIVE AT THE CENTER OF THE UNIVERSE… YOU OVERLOOK IT.” After flying through the virtual air for a few moments, the screen shows a rendering of the space-agey development  towering over Central Park. Foreigners love those park views and glossy new units!

Between the vistas of Central Park and services provided for buyers by the Hyatt, One57 is sure to win over more foreign shoppers, who have a reputation for seeking out postcard New York views and hotel-like amenities.

Michael Chen, the director of Asian market development at Bond New York, said the hotel and condo combination is popular among Asian buyers because it represents strong management at the building.

The building ain’t cheap, either. According to The Real Deal, one bedrooms on low floors are going for $3,400 per square foot. Two penthouses atop the tower are supposedly priced at $98 million a pop.

How many Yuan is that?

eknutsen@observer.com Extell Wants Foreigners to Pay Top Dollar at One57